Won a lottery or prize money in India? Here's what you need to know

are lottery tickets taxed
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The tax shall be withheld on the entire amount of the prize, not merely the amount in excess of $5,000 The tax must be withheld by the Lottery Department on

In addition, the Lottery is required to report to the IRS gambling winnings that are $600 or more, and Lottery agencies are generally required to withhold 24% of all winnings over $5,000 for taxes If your winnings put you in a higher tax bracket,

best stud poker sites Lottery winnings are taxed at a flat 30% rate in the states where it is legal to play and can be added an extra percentage depending on the an 18 % rate is imposed on the nominal value of lottery tickets distributed while organising a lottery; · a 20 % rate is imposed on the amount of